So near, yet so far away. Silver crossed the $34 barrier but still needs to close above $37.50, and then it is set to really take off. Gold has crossed one of its next two key hurdles. $1,750 is now support (instead of resistance) and the big $1,800 lies ahead. From there, gold turns its attention on its all-time high of $1,900. You can clearly see, in the following chart, the key points at $1,750 and $1,800. It’s hard to realize in this slow-motion bull market, but just one year ago, gold was hovering around $1,400 and now we are setting our sights on $1,800 and UP. Europe is a mess and the Middle East is a powder keg. All Hell could break lose at any time now. This is no time to be short gold and silver, or out of the market!
Even though I celebrated my 70th birthday on Saturday, I’m still just 69 – at least for the next two and a half weeks! I never would have believed it, but I can honestly say my 60s were the best decade yet. I hope I can say the same thing again when I look back in 10 years, God willing, on my 70s decade. Being actively involved on a daily basis, in the precious metals bull market, keeps my mind working full time. I believe that your mind is like a muscle; you use it and it stays “fit.” Retirement is over-rated. I make sure that there is never a dull moment in my life.
Here are a couple of pictures from the family birthday party last Saturday – of me, my lovely wife Susan and my son Andy Schectman, Miles Franklin’s President. My views on the economy may seem rather negative (though I would say very realistic), but actually, I am a very positive and happy person. I enjoy life to the fullest, have a wonderful life and a great family. I am blessed.
Here in Wayzata it snowed Monday night– over 3” fell and it is a white winter wonderland outside – quite different from our new life in Miami, but it’s really nice to be back home for a visit.
Today I took Susan to see our friend Paul Yellen, who is also a highly regarded Orthopedist. Paul is also a “Snow Bird.” He spends Monday through Thursday in St. Paul and Friday through Sunday in Naples, Florida. When he retires, in the next few years, he will move full-time to Naples.
Somehow, and she really doesn’t know how, Susan tore cartilage in her left knee. Paul took X-Rays and an MRI and decided that she needs surgery. He is squeezing her in for outpatient arthroscopic surgery early Thursday morning. We will fly back to Miami on Monday afternoon. We have so much to be thankful for; this is just a minor inconvenience. So there you have it – we came back to Minneapolis for a week and gold topped $1,750, silver topped $34, I celebrated my 70th and Susan had surgery. Quite a combination!